Farmland Values Soar in Heartland
Posted by | Posted on 20-01-2012
Tim Iacono comments on a Brian Williams news segment detailing the rising prices of farmland across Americas heartland, particularly in Iowa, where Republican presidential candidates so recently debated. Prices in the area have risen more than 30% in Iowa and 25% on average throughout the Midwest. One land auction featured in the report resulted in a sale for more than $13,000 per acre more than double the value from five years ago. Experts say the increases are driven by the rarity with which farmland comes on the market and the growing demand for agricultural products, particularly corn for the surging (and subsidized) ethanol market.